Coinbase Wins Final Approval to Open National Trust Company

A national trust charter gives Coinbase a federally recognized fiduciary vehicle, which is a different footing than a standard exchange license — and that is precisely why the timing draws attention. The approval lands while lawmakers question how crypto trust charters are being granted, so the charter itself may become a case study in that debate rather than a settled matter. The open question is whether scrutiny of the chartering process tightens around firms already holding approvals, and how Coinbase's trust operations are treated as that review proceeds.